The FoodMaxx store in San Jose has been acquired for $17.5 million, demonstrating continued investor appetite for grocery real estate despite retail sector challenges. The buyer, Intelli, led by local executive Do Van Tron, now owns the entire retail complex that FoodMaxx anchors. The acquisition adds to Tron's previous purchase of part of the retail hub also known as Mt. Pleasant Shopping Center, indicating its significant potential due to its strategic location within a dense residential area, enhancing its revenue prospects.
It's an excellent center. It's in a prime location.
Mt. Pleasant Shopping Center is conveniently located in a dense residential neighborhood. It is anchored by a large, high-revenue grocery, FoodMaxx.
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